Organization: Small and Medium Enterprise Administration, Ministry of Economic Affairs Publish Date: 2016-09-06 09:58
Today, Chinese Taipei, in collaboration with Peru and the Philippines, co-hosted a forum to capitalize on the growing importance of the digital economy and the potential of online-to-offline (O2O) business model for SMEs in the APEC region. Held at Lima's iconic Westin Hotel, 14 promising startups from 10 APEC economies presented their business strategies through O2O innovation to participants including APEC officials and business leaders from companies such as Google and Walmart. Two standout startups, "Triip.me" from Viet Nam and "Medifi" from the Philippines were awarded to secure the trip to the following APEC O2O events to develop more cross-border business opportunities and keep shaping the future of O2O methodologies.
"O2O Innovation", the key to driving future quality growth
In her remarks, Deputy Director General Ms. Mei-Hsueh Lin from Chinese Taipei expressed her appreciation for the support and participation from member economies and the hospitality of Peru. She emphasized that the digital economy has become the single most important driver of innovation, competitiveness, and growth in APEC.
For SMEs, the digital economy has also new opportunities and challenges. In response, it is critical to understand the four key innovative applications of O2O, namely, "Mobile Commerce", "Sharing Economy", "Collaborative Industry" and "Next Generation Innovation", which can help SMEs to stand out in the new digital era. She also announced that the next O2O event will be cohosted with the Philippines in Boracay, to bring global innovations to the world famous charming island.
Senior Advisor Mr. Gonzalo Villaran from Peru also expressed his welcome to all participants coming from around the Pacific to Lima for the APEC SME week. Speaking from 10 years of experience working with tech startups, he said that O2O businesses will keep thriving in the future. Director Mr. Jerry Clavesillas from the Philippines noted that with possibility of O2O business, Chinese Taipei and the Philippines are committed to optimizing the digital innovation ecosystem to unleash the potential of O2O business to create a more dynamic and collaborative APEC community in the future.
The Peruvian startup, Cinepapaya, is one of the best examples of Chinese Taipei's serial startup-related initiatives from the APEC Accelerator Network (AAN) to this O2O initiative. In today's forum, Mr. Gary Urteaga, Co-founder of Cinepapaya introduced his journey with APEC over the past several years. He mentioned that winning the Intel APEC Challenge in 2013 was a great milestone for his company. The SMEWG Chair Mr. John Andersen from the United States concluded the day by noting that digital learning is a never-ending process and continues regardless of age. He therefore thanked Chinese Taipei for continuing to bring these cutting-edge innovations into the APEC and building a favorable ecosystem for startups and SMEs.
The afternoon was invigorated by presentations from 14 startups and SMEs, showcasing their innovative O2O businesses. Two teams from Chinese Taipei, Installments and The News Lens, the award winner of the APEC O2O Summit 2016 held in Taipei, joined 12 other teams from China; Chile; Indonesia; Malaysia; Mexico; Peru; the Philippines; the United States and Viet Nam. These companies demonstrated to the APEC SME O2O Board how they have remained successful in the digital and global market by utilizing O2O strategies. As a result, the innovative solution of "Triip.me" and "Medifi" won the highest accolades from the board and awarded to attend the APEC O2O serial event in the future.
For further details, or to arrange possible media interviews, please contact:
Ms. Mei-Hsueh Lin
Deputy Director General, Small and Medium Enterprise Administration, MOEA
Mr. Keh-Jang Liu
Technical Advisor, Policy Planning Division, Small and Medium Enterprise Administration, MOEA